Debt Recovery is a very competitive industry; it takes special skills to
be able to convince someone to pay their debts or overdue payments that
they haven’t paid previously.
Apart from having to be persuasive we also need to understand and abide
to governing laws and regulations that have been established for debt
collections. Hence we have developed an in-house training manual to be
used for new collectors.
Duration of training for new officers is 3 days, and it focuses on:-
Company background and brief description about the business and
opportunity for career advancement;
The compliance and understanding of FSA 2013 (Section 97), Companies
Act 1965 (Section 132, 132A) and BNM Fair Debt Practice (September 2007)
– For banking portfolio only;
The importance of effective communication can never be underestimated.
Proficiency in communication skills can be learned and reduces the
potential for conflict as well as facilitates better work practices
and customer satisfaction. Our programs address the mindset – the
key to providing excellent service.
System Training – to familiarize new collectors on how to use and
update our Annecto DMS system.
Product Training, which covers Banking portfolios (Conventional
and Islamic Loans), Consumer Products, Telecommunications and may
be customized to fit certain industry.
After completion of the 3 days training there will be an on job
training whereby the new collectors will have a Mentor to assist and
what ever they have learned during training will then be applied.
The purpose is to identify weaknesses of call script, approach and
persuasion technique and skills required in order to achieve maximum
collection as well as the method on how to handle rude and to break
broken promise to pay cases.
In effective communication training, we emphasis on the following issues:-
- - importance of strong interpersonal skills
- - first impressions and personal effectiveness
- - voice quality, inflection and pacing
- - types of listening, improving listening skills
- - levels of, and barriers to, listening
- - what the customer is really "saying" when under stress
- - how communication can break down during the call
- - avoiding misinterpretations
- - the main reasons for not paying
- - dealing with evasion, delays, complainers and objectors
Meeting Customer Needs
- - dealing with customers in a variety of emotional states
- - holding back ones own emotions when confronted with angry or abusive customers
- - guiding the customer to a state in which there is a willingness to pay
Telephone Collection Skills
- - pre-call planning, the basic steps of collection calls
- - getting through to the right person
- - your opening statement
- - precision questioning
- - handling objections
- - transition to payment arrangement
Handling Customer Complaints
- - how not to repeat the same mistake
- - to provide additional coaching/ training where necessary
- - take responsibility of the action